Multiple Choice
What is the monthly discount rate expressed as an nominal annual rate for a future value of $182 500 to be reduced to $178 663.58 over a period of 4.25 years?
A) 4.06%
B) 8.04%
C) 6.88%
D) 4.88%
E) 0.50%
Correct Answer:
Verified
Correct Answer:
Verified
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